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Mrs. Tserennadmid, 26, is a hairdresser. She started her business just after she graduated high school in 2005. During the past years, she has gained a lot of experience and could become one of the most skillful hairdressers in Mongolia.

She lives with her husband, her two sons and her mother in an old house in the ger district, an area of Mongolian traditional nomadic yurts and houses in Ulaanbaatar, the capital city. Her husband runs a taxi with his brother’s old car and earns not so much. Next year, she and her husband are planning to open a small grocery store in their backyard. It will be a very important step for her family, she said.

Tserennadmid is planning to install the electric-heated floor in her new store. It will cut the use of a coal fired-stove further. The loan she is taking will be used to pay for the electric-heated floor at her store.

Additional Information

More information about this loan

This loan is part of Credit Mongol's green loan program, which helps clients to purchase products for improving their heating and ventilation systems, reducing pollution and health problems caused by burning coal in the winter.

About Credit Mongol

Credit Mongol is the largest non-banking financial institution (NBFI) in Mongolia. Its mission is to contribute to the prosperity of Mongolians by providing high-quality, affordable and varied financial services to micro-entrepreneurs and small-to-medium-sized businesses. It prioritizes serving remote, rural populations that have typically lacked access to credit and other financial services. Uniquely, it offers solar panel loans to nomadic herders, most of whom live without electricity.

About Mongolia

  • $5,900
    Average annual income
  • 0
    View loans »
    Mongolia Loans Fundraising
  • $15,491,375
    Funds lent in using Kiva
  • 1,382.0
    Mongolia Tugriks (MNT) = $1 USD

Success!! The loan was 100% repaid

A loan of $3,225 helped Tserennadmid to pay for an electric-heated floor at her store.
100% repaid
Repayment Term
39 months (Additional Information)
Repayment Schedule
Aug 22, 2012
Sep 17, 2012
Currency Exchange Loss:
Oct 17, 2015